The State Administration of Radio, Film and Television has recently released two regulations, which loosen restrictions on foreign capitals' entry into the broadcasting, film and TV industry. The management of the international media thinks the foreign capitals will quicken their steps in entering China's broadcasting, film and TV industry.
China's first film company established with domestic capital, foreign capital and private capital-the Zhongying-Warner-Hengdian Film and Television Co., Ltd, which is jointly founded by the Zhongying Group, the Warner Group and the Zhejiang Hengdian Film and TV Co. Ltd, is now going through formalities needed for establishment of a new company. Its business covers investment, production, and promotion of Chinese-language films. Next year it will invest in a digital movie "ten great warriors".
The head of Zhongying company says the group have founded three joint ventures with foreign companies. Aside from the Huasuo and Hengdian, Zhongying is to put up a cartoon film production company with Canada. Next year, it will set up a film production company with ROK.
The Viacom's Nickelodeon has got approval from the State Administration of Radio, Film and Television to establish a JV with SMG. The company is settling registration formality and will begin operation in first quarter of 2005. The new JV will launch entertainment channel, games channel, and cartoon channel "Nickelodeon time", which will be played in more than 30 channels nationwide.
In the future, the cartoons produced by Viacom in China will be showed in more than 100 countries. The audience around the world will have a chance to get to know the traditional Chinese stories and figures.
Huasuo Film/Television Digital Production Company confounded by Sony Pictures and Zhongying Group has begun operation on Nov 25. Its main business is production of entertainment programs in Chinese language, including comics, TV serials and movies.
By People's Daily Online